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Georgian Lender TBC Said to Pick Barclays, UBS for London Debut

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Jan. 30 (Bloomberg) -- TBC Bank, Georgia’s second-largest lender, has named Barclays Plc and UBS AG to arrange an initial public offering in London that may raise around $200 million, according to two people with knowledge of the matter.

The lender, partly owned by the European Bank for Reconstruction and Development, plans to sell global depositary receipts in the first half, the people said yesterday, asking not to be named because the details aren’t public.

Bank of Georgia Holdings Plc, the Black Sea country’s biggest lender, surged 133 percent in London trading last year as frontier-nation equities outperformed those in emerging markets. Russian retailer Lenta Ltd. is among companies that plan to sell shares in February, people familiar with the matter told Bloomberg News on Jan. 11.

Spokesmen for Barclays and UBS declined to comment on the TBC mandate and the size of the IPO. A spokeswoman for the lender, who asked not to be named due to bank policy, declined to comment when reached by phone in Tbilisi yesterday.

TBC Bank decided to delay a share sale on the Warsaw Stock Exchange in 2012, citing global market volatility. EBRD and the International Finance Corp. each hold a 19.8 percent stake in TBC, the Georgian lender’s website shows.

To contact the reporters on this story: Ruth David in London at rdavid9@bloomberg.net; Maria Levitov in London at mlevitov@bloomberg.net

To contact the editor responsible for this story: Daliah Merzaban at dmerzaban@bloomberg.net

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